With ASX nearing the 5700 mark as the bulls buy heavily on the dip and the wall street rallies, two of the stocks came under discussion with Australian share markets closing in green. These stocks are from comparatively safer sectors which can provide steady returns. Let’s take a peek into these stocks.
BIOTRON LIMITED (ASX: BIT) – The company noted a new principal place of business at 56 Delhi Road, North Ryde, New South Wales. The company completed Phase 2 clinical trial of BIT225 and Combination Antiretroviral Therapy and reported positive data in September 2018, presenting data from trial at HIV DART conference in late November 2018. The company received $1.07 million R&D tax refund in Oct ’18 bringing the company in a sound financial position as it focuses on commercial outcomes. Biotron has three tactical priorities as partnering lead clinical program ? BIT225 for HIV?1 eradication, partnering one or more preclinical programs – e.g. HBV and execute a regional licensing deal in China ? HCV program remains a key potential opportunity. BIT drugs target high growth, multi-billion-dollar markets with defined treatment gaps. Company also has a strong cash position with A$1.5 million which excludes R&D Tax refund. The stock traded at a market price of $0.210 with a daily percentage change of 23.529% as at November 22, 2018. It has undergone a performance change of an attractive 467.91% over the past 12 months.
THE FOOD REVOLUTION GROUP LIMITED (ASX: FOD) – To produce a new Apple Mango juice for Aldi, one of Australia’s top ten retailers, the company has secured a 12-month supply contract. The company has increased its product line with the launch of Kombucha range, the Bucha Shop which helped increase the sales of the group overall. The company saw a massive development with strategic investment in the group led by Careline’s CEO Dr Norman Li and with the signing of a Chinese distribution agreement with Careline Australia Pty Ltd. Gross sales of the group were $35,627,680 and net revenues trading terms, other claims and volume rebates were $33,124,645. The gross profit margin for the previous year was 48% and for the current year it is 40% which has been positively impacted by the launch of several branded products and negatively impacted by the change in product mix as well as the increase in cost of fruits and ingredients. The stock traded at a market price of $0.160 with a daily percentage change of 1.718% as at November 22, 2018. It has undergone a performance change of an attractive 326.83% over the past 12 months.
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